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If you choose to itemize your taxes, charitable contributions can reduce your tax bill. Generally you would choose to itemize when the combined total of your anticipated deductions (like charitable gifts) add up to more than the standard deduction. For 2019 taxes the standard deductions are: $12,200 for single individuals $12,200 for married, filing separately $24,400 […]
Spring ushers in so many great things: baseball season, blooming flowers, and baby animals. But, it also brings tax season (which can be a metaphorical rain cloud or rainbow depending on your personal situation). The Tax Cuts and Jobs Act, passed at the end of 2017, ushered in many federal changes that affect both estate […]
Is your favorite nonprofit up-to-date on requirements for the federal income tax charitable deduction? You want to be able to ensure your donation maximize benefits for both you as a donor and the charity. Consider the following considerations and requirements. Save $$$ and help your favorite charities even more I always say, it’s better to […]
Save $$$ and help your favorite charities even more. Some say it’s better to give than receive. I say, it’s better to give and receive. You can both give and receive by using the federal income tax charitable deduction. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income […]
I say, it’s better to give and receive. You can both give and receive by using the federal income tax charitable deduction. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize deductions. Assuming the gifts are deductible, the actual cost of your gift is […]
Thanks for reading the 25 Days of Giving series! Share with friends, family, & colleagues to inspire others to also make meaningful year end gifts this season…and plan ahead for 2020 charitable goals. Under the current tax code, you may have changed the ways in which you give or the tax-beneficial strategies you employ with […]
With ringing in the new year comes the inevitable resolutions to be happier, healthier, more productive…all good intentions. But, what if this year you make a different kind of resolution—an actionable goal that could make a difference in the causes you care about? How about a goal that goes beyond yourself and could also have […]
We’re now well into the 25 Days of Giving Series and it’s my intent to provide different aspects and strategies of charitable giving. Given that it’s the season of joy, sharing, and love it’s a great time to be thinking about smart giving (the kind that doesn’t involve gift wrappings, stockings, or bows). Read on to […]
Thanks for reading the 25 Days of Giving series! Share with friends, family, & colleagues. Knowledge is indeed a “gift” when it comes to encouraging and maximizing smart charitable giving. Headed to a holiday party this season? If it’s to celebrate/fundraise for your favorite charity, you might experience an auction (silent or otherwise). Charity auctions […]
If you’ve been reading along with the 25 Days of Giving Series throughout December, thank you. If you’ve happened upon the GoFisch blog just now, welcome! I hope to see you back here often. Giving for the sake of giving is great, however it’s financially wise to make certain your charitable donation is also beneficial in […]